WCG Wealth Advisors LLC Takes $702,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

WCG Wealth Advisors LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,103 shares of the credit services provider’s stock, valued at approximately $702,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pittenger & Anderson Inc. increased its stake in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the period. American National Bank acquired a new stake in shares of PayPal during the first quarter worth $27,000. Register Financial Advisors LLC acquired a new stake in shares of PayPal during the first quarter worth $30,000. CarsonAllaria Wealth Management Ltd. grew its stake in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the period. Finally, Family Firm Inc. acquired a new stake in shares of PayPal during the second quarter worth $29,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Argus raised PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Macquarie lifted their price objective on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein raised PayPal from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $71.00 to $78.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. Seventeen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $75.58.

PayPal Price Performance

NASDAQ:PYPL opened at $77.57 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $66.68 and its 200 day simple moving average is $64.26. The company has a market cap of $81.14 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.00 and a beta of 1.43. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $78.25.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.